AMENDING SECTION ONE OF PRESIDENTIAL DECREE NUMBERED THIRTY-TWO

• Number: Presidential Decree No. 1871
• Sections: 4

Preamble

WHEREAS, the Asian Development Bank (ADE) con ducts a

general review, and whenever appropriate approves the increase of the Bank's

authorized capital stock and subscriptions of member countries including the

Philippines;

WHEREAS, on 25 April 1983, the Board of Governors of the

Bank adopted Resolution No. 158 which provides for a third general increase in

the Rank's authorized capital stock and for subscriptions to such increase by

the Bank's members; and

WHEREAS, there is a continuing need to meet any increase in

the subscription of the Republic of the Philippines to the capital stock of the

Asian Development Bank;

NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the

Philippines, by virtue of the powers vested in me by the Constitution do hereby

order and decree:

Section 1

SECTION 1. Section 1 of Presidential Decree No. 32, is

hereby amended to read as follows:

Section 2

SEC. 2. This Decree shall take effect immediately.

Done in the City of Manila, this 18th day of July, in the year of Our Lord,

nineteen hundred and eighty-three.

(Sgd.) FERDINAND E. MARCOS

President

Republic of the Philippines

By the President:

(Sgd.) JUAN C. TUVERA

Presidential Executive

Assistant

Section 1

SECTION 1. The President of the Philippines is hereby

authorized to negotiate for the increase of the subscription of the Republic of

the Philippines to the capital stock of the Asian Development Bank in such

amounts as may be required by the Bank under the rules that may be promulgated

thereunder.